Vietnam mounts ‘unprecedented’ $24b rescue for fraud-hit lender

Vietnam mounts ‘unprecedented’ $24b rescue for fraud-hit lender

FILE PHOTO: A logo of Saigon Joint Stock Commercial Bank (SCB) is seen in front of an under-construction building in Ho Chi Minh City, Vietnam, November 30, 2023. REUTERS/Francesco Guarascio/File Photo

Vietnam has mounted an “unprecedented” rescue of Saigon Joint Stock Commercial Bank (SCB), a lender engulfed in the nation’s biggest financial fraud, according to three bank documents and new official information provided to Reuters by a person with access to the documents.